Ahead of today's Spring Statement, a new business group has been formed to promote the South West.
The South West Business Council is made up of groups across the region and aims to 'build the profile of the region' and create 'strategic alliances with regional and international partners'.
Tim Jones, Chair of the group said: "I am delighted that Devon & Cornwall Business Council, which has been established for nearly 20 years, has, after extensive consultation, unanimously agreed with all our key stakeholders to embark upon this new branding exercise.
"In addition to taking on this new name we are also expanding our networks through a series of strategic partnerships to be announced over the coming months.
"The impact of this will enable the SWBC to more effectively support the Great South West economy, assist in improving productivity levels, increase our influence in Whitehall and extend our network to a number of international opportunities.
"Our role is to amplify the single voice for all businesses across the South West."
Dr Robin Daniels, Chief Executive of the SWBC, said: "As business people and innovators, we see that new opportunities are forged through partnerships that span cities and regions, sectors and markets.
"This is our mission: to create new opportunities for organisations of all sizes and from all sectors across the region and, as a region, to take our products and services to global markets."
Susan Davy, Chief Financial Officer, Pennon Group PLC & South West Chair, Confederation of British Industry said: "The Great South West initiative successfully galvanized support around a shared vision for an ambitious, growing and outward focused region."
Click play to hear Dr Robin Daniels speaking to reporter Andrew Kay